Infield Minerals Issues Shares for Kings Canyon Gold Property Option Payment

Infield Minerals Corp. issued 1,508,092 common shares to Geomark Minerals USA Inc. to satisfy the third option payment under the Kings Canyon Property Option Agreement. The shares were issued at a deemed price of $0.066309 per share, representing a cash-equivalent value of approximately $100,000. This issuance, combined with a $100,000 cash payment, fulfills the $200,000 third payment due on or before June 24, 2026.

The transaction is part of a broader $1.2 million, 48-month earn-in schedule to acquire a 100% undivided interest in the Kings Canyon Property in Utah, subject to 2-5% pre-existing royalties. Future contingent payments include $1,000,000 upon filing a NI 43-101 Technical Report describing ≥400,000 ounces of mineral product, and $2,000,000 upon achieving ≥5,000 ounces of aggregate production. The issued shares carry a statutory hold period expiring November 3, 2026. This execution directly follows the June 22, 2026 announcement of the company's intention to issue shares for this specific payment, confirming prior guidance and maintaining the amended payment structure established in September 2025.

Infield Minerals Corp. (IN) executed a routine exercise of a pre-announced option, a move expected to align with the company’s amended payment schedule. The transaction resulted in the issuance of shares, creating a dilution impact of approximately 3.1% based on the ~48.7 million shares outstanding prior to issuance. While this dilution falls within the bounds of the company's stated capital allocation strategy, the equity-based payment structure preserved $100,000 in cash. This preservation of liquidity is critical given the company's structural liquidity gap and aligns with management's explicit strategy to minimize near-term cash outflows for option payments.

The transaction did not introduce new strategic shifts, unexpected catalysts, or changes to the Kings Canyon milestone targets, nor did it alter the fundamental risk profile or exploration timeline. Market reaction is likely to be neutral to mildly positive in the short term, as the move confirms progress on a key asset without requiring immediate cash raises or triggering panic dilution. However, the recurring nature of equity-based option payments reinforces the company's heavy reliance on capital markets.

Infield Minerals Corp. is a Western USA junior gold exploration company focused on Utah and Nevada. Its flagship asset is the Kings Canyon Property in Utah, a sediment-hosted oxide gold project with Carlin-type potential. The company holds an option to acquire a 100% interest in the property, subject to 2-5% pre-existing royalties. Historical data indicates a Crown Zone unclassified resource of approximately 6.8 million tonnes at 1.02 grams per tonne of gold. The property features two near-surface oxide deposits, the Crown and Royal zones, which benefit from road access and proximity to Highway 50.

The company also holds the Detroit Property in Utah, which was recently expanded to 14,122 acres through a SITLA agreement and BLM staking. This project covers the footprint of the past-producing Drum gold deposit and the Mizpah sediment-hosted gold system. Infield Minerals has an option to acquire 100% of the Detroit Property, contingent on an aggregate payment schedule of $550,000 and the achievement of production or resource milestones.

Additionally, the company owns the Goldendale Property in Nevada, a 100% owned epithermal gold-silver project located in the Ellendale mining district. Currently a secondary focus, the company plans to conduct infill soil sampling and pursue potential partnership or option agreements for the asset.